Intro Risk Management Insurance

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					Module 1
Introduction to Risk Management




                      LISC Organizational Development
                                              Initiative
    What Are The Risks That Can Destroy Your
    CDC?

   Financial Mismanagement
   Loss of revenue from investors and/or federal
    agencies
   Inability to obtain insurance for new projects.




                                        LISC Organizational Development
                                                   Initiative
WHAT IS RISK MANAGEMENT?

Risk management is the means by which your CDC can
      identify
      assess
      control risks
that may be present within your organizational structure
or operations.




                                   LISC Organizational Development
                                              Initiative
Benefits of Risk Management Planning

   Structured approach to identifying, assessing and
    treating risk within your CDC .
   Includes a means by which risk treatment can be
    evaluated and adjusted.
   Is the framework from which other plans such as
    Crisis Management can be developed.




                                      LISC Organizational Development
                                                 Initiative
Risk Management Activities

   Some examples of areas which benefit from
    risk management activities:
    –   Workplace Safety
    –   Finance
    –   Public trust – the CDC’s image – how well the
        CDC manages a crisis situation.




                                      LISC Organizational Development
                                                 Initiative
What are the key activities in risk
management?

   Risk Assessment
   Risk Management Strategies
   Monitoring for Results -Evaluating the
    strategies- did they work?




                                  LISC Organizational Development
                                             Initiative
What is Risk Assessment?



   Risk assessment is the process of evaluating potential
    for accidents, injuries, insurance claims, or adverse
    publicity.

   Risks areas are prioritized, and possible risk
    treatment approaches considered.



                                       LISC Organizational Development
                                                  Initiative
Risk Management Activities

   Some examples of areas which benefit from
    risk management activities:
    –   Workplace Safety
    –   Finance
    –   Public trust – the CDC’s image – how well the
        CDC manages a crisis situation.




                                      LISC Organizational Development
                                                 Initiative
Implementation of Risk
Management Strategies


  Action steps taken to treat identified risks.
   Decisions-making on risk treatment options, and
   specific actions determined to reduce the
   potential or severity of the risks.




                                 LISC Organizational Development
                                            Initiative
Monitoring for Results

   This step ensures that the actions taken in
    the Risk Management Implementation stage
    are reviewed to determine effectiveness as
    well as establishing a framework for the next
    round of risk assessment.




                                 LISC Organizational Development
                                            Initiative
Crisis Management Planning

   If a fire broke out at your CDC at 2PM on a
    Wednesday-
    –   Would your staff know how to evacuate the
        building?
    –   Is there a meeting place – and an alternative
        meeting place? Could you determine how many
        of your staff are still in the building? Missing?
    –   Where would staff report the next day?
    –   How would your customers get in contact with
        you?
                                        LISC Organizational Development
                                                   Initiative
How is Crisis Management Planning
Related to Risk Management?

   Crisis Management Planning is a subset of
    risk management in which the CDC develops
    strategies to deal with emergency situations.
   The Template includes a Crisis Management
    Plan section because planning for and
    dealing with a crisis scenario is an important
    part of any risk management plan.

                                 LISC Organizational Development
                                            Initiative
Emergency Plans

   How you will stay in contact with your staff,
    board, contractors and others.
   How you will explain to the public (via the
    newspapers or the media) what happened
    and how your CDC is planning to resume
    operations.
   How your CDC can begin an emergency
    fund-raising campaign if this is appropriate.
                                  LISC Organizational Development
                                             Initiative
Summary

   Risk management and Crisis Management
    planning are essential elements in
    developing your CDC’s risk profile.
   An effective risk management/Crisis
    Management plan is a means of
    demonstrating your CDC’s professionalism
    and commitment to excellence in
    management – and your commitment to
    being a Player !
                               LISC Organizational Development
                                          Initiative

				
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